Foreign investors dump $1b worth of Thai stocks

Reading Time: 1 minute

SET1Foreign investors continued their retreat from the Stock Exchange of Thailand over the past days, having sold 33.99 million baht (around $1 billion) worth of stocks since the beginning of 2014. On February 26 alone, the net sale hit 1.18 billion baht ($35.7 million).

However, the stock market is not the only one hit by the protests. Thai exports fell in January and imports slumped, reflecting the deepening toll the prolonged political unrest is taking on the economy and increasing pressure on the central bank to cut already-low interest rates. The Commerce Ministry said on February 25 that exports fell 1.98 per cent in January from a year earlier. January imports fell 15.5 per cent from a year earlier.

The January trade deficit was $2.52 billion, compared with the poll’s forecast for an $850 million gap. Exports, which account for more than 60 percent of Thailand’s economic output, were weak throughout 2013, falling 0.3 per cent. Imports were also poor, up just 0.3 per cent in 2013.

Srirat Rastapana, permanent secretary of the Commerce Ministry, blamed “seasonal factors” for weak January exports, saying that month traditionally has the lowest shipments. But she acknowledged the political tussle is hurting.

“Political uncertainty will hurt confidence of importers of Thai goods, but this should be short-term. If the situation improves, exports will get better,” Srirat said. The ministry forecasts 2014 exports will rise 5 per cent.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

Foreign investors continued their retreat from the Stock Exchange of Thailand over the past days, having sold 33.99 million baht (around $1 billion) worth of stocks since the beginning of 2014. On February 26 alone, the net sale hit 1.18 billion baht ($35.7 million).

Reading Time: 1 minute

SET1Foreign investors continued their retreat from the Stock Exchange of Thailand over the past days, having sold 33.99 million baht (around $1 billion) worth of stocks since the beginning of 2014. On February 26 alone, the net sale hit 1.18 billion baht ($35.7 million).

However, the stock market is not the only one hit by the protests. Thai exports fell in January and imports slumped, reflecting the deepening toll the prolonged political unrest is taking on the economy and increasing pressure on the central bank to cut already-low interest rates. The Commerce Ministry said on February 25 that exports fell 1.98 per cent in January from a year earlier. January imports fell 15.5 per cent from a year earlier.

The January trade deficit was $2.52 billion, compared with the poll’s forecast for an $850 million gap. Exports, which account for more than 60 percent of Thailand’s economic output, were weak throughout 2013, falling 0.3 per cent. Imports were also poor, up just 0.3 per cent in 2013.

Srirat Rastapana, permanent secretary of the Commerce Ministry, blamed “seasonal factors” for weak January exports, saying that month traditionally has the lowest shipments. But she acknowledged the political tussle is hurting.

“Political uncertainty will hurt confidence of importers of Thai goods, but this should be short-term. If the situation improves, exports will get better,” Srirat said. The ministry forecasts 2014 exports will rise 5 per cent.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid